Sea freight rates have fallen sharply.

Shipping rates are falling in August 2024 - Photo: CONG TRUNG

In particular, in August 2024, shipping routes from Asia to the West Coast of the United States and Europe recorded the sharpest declines, ranging from 20-30% compared to the previous month.

Compared to their peak in September 2021, when global supply chains were severely disrupted by the COVID-19 pandemic, sea freight rates have fallen by as much as 44%.

Notably, freight rates have decreased by an average of 3-4% each week, reflecting a steady downward trend that is projected to continue in the near future.

Mr. Nguyen Thanh Tuan, director of Blue Sea Commercial Transportation Company (Phu Nhuan District, Ho Chi Minh City), said that although freight rates have cooled down, they are still high compared to before the pandemic.

Specifically, shipping costs from Europe are currently around $6,000-$8,000 per 40-foot container, while from Asia to the West Coast of the United States they range from $5,000-$6,000 per container. The East Coast of the United States remains high, ranging from $9,000-$10,000 per container.

Similarly, Mr. Nguyen Hoai Chung, CEO of Phattaa - a Vietnamese international logistics exchange platform - also stated that freight rates from Asia to North America have fallen to $6,356 per 40-foot container, a decrease of 1.52% compared to the beginning of August and a significant decrease of 19.28% compared to the previous month.

According to Mr. Chung, the addition of more ships on the trans -Pacific trade route has helped alleviate pressure on space, especially at ports in the southwestern Pacific.

According to the Vietnam Maritime Administration, sea freight rates will continue to decrease in the near future, after congestion at major ports around the world has been completely resolved.

This is a golden opportunity for export businesses to take advantage of lower transportation costs to boost their operations, expand their markets, and seek strong growth in the final months of the year.

Source: https://tuoitre.vn/cuoc-van-tai-bien-giam-manh-20240821231951762.htm